Oireachtas Joint and Select Committees

Thursday, 13 November 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Banking Sector: Ulster Bank

10:55 am

Photo of Paul MurphyPaul Murphy (Dublin South West, Socialist Party) | Oireachtas source

Moving to the lessons Ulster Bank can take from the fine, as Deputy Pearse Doherty said, it is not the only IT failure. I understand there were others seven or eight years ago when over 1,000 mortgage customers were temporarily put on interest only mortgages and not taken off that arrangement. They were then liable to paying significant amounts of money. In Mr. Brown's response to Deputy Pearse Doherty he said the IT division was located in Scotland. Is that accurate?

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